Motherson Sumi Systems Limited Meet/117334_20130731.pdf · providing full system solutions to...

Presentation

by

Motherson Sumi

Systems Limited

a member of Samvardhana Motherson Group June 2013

2

Integrated design and

manufacturing Group

providing full system

solutions to automotive

and other related

industries

Diversified Group, major

business areas –

polymers, rear-view vision

systems, wiring harnesses

and modules

Established in 1975 in

India, now a global Group

with presence in 25

countries across 5

continents

Global customer

base with supplies

to all the major

automotive OEMs

across the world

Technology driven

with in-house

research as well as

support from JV

partners

Group Turnover

Business Portfolio Share

Exterior rearview

mirrors

Globally

Exterior rearview mirrors

Europe

IP modules, door trims and

bumpers

Wiring harnesses for 2-

wheelers, earthmoving and

material handling equipment

Wiring harnesses for

passenger cars

India

CBN & PCD cutting tools

Rearview mirrors for passenger

cars

Moulded components and

modules

Plastic air intake manifolds

Cabins for large size dump trucks

Gear cutting tools

One of the largest

Samvardhana Motherson Group

0.65

1.692.08

4.14

5.40

0.00

1.00

2.00

3.00

4.00

5.00

6.00

200

8-0

9

200

9-1

0

201

0-1

1

201

1-1

2

201

2-1

3

Bil

ion

U

S$

CAGR

(Last 5 Years)

69.77%

Wiring Harness 19.6%

Mirrors 26.6%

Modules, Polymer

Processing & Tooling49.2%

Elastomer Processing

1.0%

IT & Design0.4%

Metal Working1.2%

Manufacturing Support

0.4%Others

1.7%

Vision & Mission

Vision

To be a Globally Preferred Solutions Provider

Ensure Customer Delight

Involve Employees as “Partners” in Progress

Enhance Shareholder Value

Set new standards in Good Corporate Citizenship

Mission

3

4

Shareholding Pattern

** As on 31st March 2013

Sumitomo Wiring Systems Ltd. (25.55%) :

Subsidiary of Sumitomo Electric Industries,

Japan

The second largest Manufacturer of wiring

harnesses in the world and the second largest in

Asia with current market share – more than 20%

in the world passenger car market

Sehgal Family & SMIL (39.92%) :

Started Motherson Group in 1975

Started manufacturing Wiring Harness in technical

agreement with Tokai Electric Industries, Japan

(a part of Sumitomo Wiring Systems) in 1983

Established Motherson Sumi Systems Ltd. (MSSL)

in JV with Sumitomo Wiring Systems Ltd. (SWS) in

1986

Group Turnover approx USD 5.40 Billion (2012-13)

SMIL

36.12%

Sehgal Family

3.80%

SWS & HKWS

25.55%

FII's & Mutual

Funds24.64%

Public & others9.89%

SMIL : Samvardhana Motherson International Ltd, MSSL : Motherson Sumi Systems Ltd,

Journey so far….

1975 Motherson established

1983 Establishment of Motherson Auto P. Ltd. - technical assistance agreement signed with Tokai Electric Wire Co. Ltd., now known as Sumitomo Wiring Systems Ltd., Japan (SWS)

Motherson Sumi Systems Limited (MSSL) formed as a JV with Sumitomo Wiring Systems Ltd.

1986

1993 Motherson Sumi Systems Limited listed on Indian Stock Exchange 1st Public Issue at a premium of Rs. 15 per share

1999 First Overseas office established in Austria

Acquired Global Rear View Business of Visiocorp plc (in administration) , (now called SMR : Samvardhana Motherson Reflectec)

2009

2000s Set up Overseas Facilities as well Acquisitions in Europe & Australia

1990s Formed Joint Ventures with Global Technology Leaders to increase content per car

Acquired Peguform (now called SMP : Samvardhana Motherson Peguform) 2011

5

Samvardhana Motherson Reflectec (SMR) Global Rear View Mirror Business

(Total Holding 93.6%)

Samvardhana Motherson Peguform (SMP) Global Polymer Business

(Total Holding 83.7%) Other JV’s & Subsidiaries

6

Group Structure*

Other JV’s & Subsidiaries

36.12%

3.80% 25.55% 34.53% 90.3% 6.5% 3.2%

51%

51%

49%

49%

Motherson Sumi Systems Limited

(MSSL)

Samvardhana Motherson International Limited

(SMIL)

Sumitomo Wiring Systems (SWS)

Sehgal Family

Public & Others

Sojitz Corporation

Employees

*Shareholding held directly/indirectly – not a legal structure

Year Event

1997-98 Bonus Issue

2000-01 Bonus Issue

2004-05 Bonus Issue

2007-08 Bonus Issue

2012-13 Bonus Issue

7

Capital Issuance

Capitalisation by Bonus Issues (1:2)

Year Event

2002-03 Face value changed to Rs.5 (2:1)

2003-04 Face value changed to Rs.1 (5:1)

Split of Shares

Year Event Dilution

% Face Value

(Rs. per share)

Issue / Conversion Price (Rs. per share)

Amount Raised

(Rs. in Mn)

Adjusted Issue price*

1993-94 Public Issue 10.00 25.00 Rs. 42.5 Mn 0.33

1995-96 Right Issue 10.00 90.00 Rs 104.4 Mn 1.19

2005-06 Convertible Bonds (FCCB) 10 % 1.00 111.45 Rs. 2,616 Mn

( Euro 50.3 millions )

49.53

2011-12 Shares issued to shareholders of erstwhile SMIEL as per scheme

1.1% 1.00 Merger Scheme

Fresh Capital Issuance

* Based on split bonus issues

* Adjusted for Split/Bonus issue

8

MSSL Return to Shareholders

100 150 225

450

2,250

3,375

5,062

7,593

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

1993 1997-98 2000-01 2002-03 2003-04 2004-05 2007-08 2011-12

No

. o

f sh

are

s

Bonus

Issue

Bonus

Issue

Original

investment

Rs. 2,500

Par value

of Rs. 5 per

share

Par Value

of Rs. 1 per

share

Bonus

Issue

Bonus

Issue

Value*

Rs. 1.629 Mn

i.e.

651 times

Bonus Issue

Investment

Value

Dividend

in

recent 5

years

Original

Listing

April 1993

Issue price

Rs. 10 at premium

of Rs.15 per share

Face value

Rs. 10/- per share

6,834

8,859

13,921

11,390

15,187

0

4000

8000

12000

16000

2008-09 2009-10 2010-11 2011-12 2012-13

Div

iden

d a

mo

un

t in

Rs.

* As on 31st May 2013

Total Capital

Raised

Rs. 29 Mn from

public

MSSL Turnover

Rs.176 Mn p.a

Investment on

100 shares was

Rs. 2,500/-

9

Business Portfolio

Wiring Harnesses Rearview Mirrors

Polymer Processing &

Tool Manufacturing

Elastomer Processing

Modules

Precision Metal Machining

Full

System

Solutions

10

Global Presence

124 manufacturing facilities

Global Customer Base Strong presence in regions with key

customer concentration

Global Manufacturing including strategic low cost

manufacturing locations

Presence in

25 Countries

Plastic Molding

Wiring Harness

Mirrors Mirrors

Plastic Molding

Metal Machining

Representative Office

Wiring Harness

Plastic Molding

Injection Molding Tools

Silicon Rubber Injection Molding

Plastic Molding Design

Engineering

IRELAND UK GERMANY CZECH REPUBLIC

SHARJAH Mirrors

Rubber Extrusion

Waste Recycling

Systems

Representative

Office

Representative

Office

AUSTRIA

AUSTRALIA MAURITIUS

Strategic Sourcing

Wires

SINGAPORE

SRILANKA

Mirrors Plastic Molding

BRAZIL

Mirrors

USA

Mirrors

FRANCE


SPAIN

MEXICO Mirrors Plastic Molding Wiring Harness

Mirrors

HUNGARY


CHINA

Mirrors

Wiring Harness

SOUTH KOREA

Mirrors

Wiring Harness

JAPAN

SOUTH AFRICA Design Engineering

ITALY

THAILAND Mirrors

Wiring Harness

Plastic Molding

PORTUGAL

Plastic Molding

SLOVAKIA

Map not to scale

11

Presence in India

NOIDA & NCR REGION

KANDLA

BENGALURU CHENNAI

PUDUCHERRY

NASHIK

Wiring Harness

Wires

Fuse Boxes

Tubes

Plastic Molding & Assemblies

Rubber Injection Molding

IP, Door Trim & Bumpers

Rearview Mirrors

Design Engineering

Components & HVAC


Wiring Harness

Wiring Harness


Rear View Mirrors

Wiring Harness

Wires


Metal Machining

Rear View Mirrors

Wiring Harness


IP, Door Trim & Bumpers

Rearview Mirrors

Components & HVAC

Rubber Molding

Design Engineering

Rear View

Mirrors

PUNE


Working with a philosophy of nearness to customers MSSL has established facilities near major customer locations

HALDWANI

Wiring Harness

JAMSHEDPUR Wiring Harness

LUCKNOW

Wiring Harness

PATHREDI

Wiring Harness

TAPUKARA


Map not to scale

12

Providing Full Systems Solutions

Wiring Harness

Plastic Components

Rubber Components

Mirrors

Moulds

Complete Modules

Full System Solutions

Modules

Assemblies

Moulding & Manufacturing

Tool Manufacturing

Tool Design & Analysis

Prototyping

Product Design

Services

Machined Components

13

Wiring Harnesses

Market Leader – With over 65 % market share

of passenger car wiring harnesses in India

JV with Sumitomo Wiring Systems, Japan, the

2nd largest wiring harness manufacturer in the

in world (Partnership since 1983, JV since 1986)

Serving a global customer base

Strong presence in Europe Two-Wheeler &

Material Handling Equipment markets

Full Service Supplier with complete in-house

design capability

More than 30 Manufacturing Facilities

Vertical backward integration for critical wiring

harness components Partners

Sumitomo

Wiring Systems,

Japan

Kyungshin

Industrial Co.,

S. Korea

14

Wiring Harness - Backward Integration

Wiring

Harness

Design

Fuse Boxes

Caps & Sleeves

Clamps & Binders

Grommets & Seals

Applicators Jigs Assembly Boards

Circuit Boards

Material Handling

Process Engineering

Terminals

Connectors

Wires

Component Design

Tool Manufacturing

Component

Manufacturing

Backward integration for critical inputs for wiring

harnesses such as wires, connectors, terminals and

fuse boxes. Company engaged in making components

for wiring harness is now merged with MSSL, which

further strengthens the backward integration.

Direct exports to the customers as well as exporting

back to collaborators

Strong product engineering capabilities

In-house process engineering capabilities

Global quality standards enabled by better control on

critical inputs, product and process development

Shorter lead times to market the products

15

Rearview Mirrors*

Samvardhana Motherson Reflectec (SMR), which acquired global

rear view mirror business of Visiocorp in March 2009, is a leading

manufacturer of automotive rear view mirrors in the world

Presence in India since 1996 through initial JV with Britax which

later on became a part of Visiocorp

Supplying products to the Top Ten OEMs totalling more than 360

individual programs

20 manufacturing plants across the world in growing markets like

China, India, Korea, Brazil & Mexico

Technology leader with over 500 patents and a history of

innovations

22% share of global passenger car rearview mirror market and a

53% share in India

Partners

Ningbo HuaXiang

Electronic Co.,Ltd.

China

50:50JV for China

Poong Jeong Ind

Co., Ltd

S.Korea

90:10 JV for Korea

* In Joint Venture with SMIL

First interior mirror with

multiple functions

(Mercedes-Benz)

16

Samvardhana Motherson Reflectec (SMR) –

History of Innovation and Technology Leadership

Tradition of ‘First to Markets’

SMR’s innovative solutions provide comfort, safety, styling, sustainability

and cost optimisation

1998 1999 2001 2005 2006 2007 2011 2012

Plastic glass

First Turn signal in

exterior mirror

(Mercedes-Benz)

First Camera-based

blind spot detection

system (Volvo)

First LIN-bus-

system in exterior

mirror (Jaguar)

First Light guide

style turn signal

(Audi Q7)

Next generation

vision based sensor

technology

First Power

telescopic and

power folding

mirror (Ford)

First Side-looker-

LED turn signal

(Hyundai)

High performance /

Low cost

axis-free mirrors

Logo light

17

Polymer Processing

One of the largest molded parts, assemblies & module

supplier to the European automotive industry through

Samvardhana Motherson Peguform (SMP) & to the Indian

automotive industry through polymer division Motherson

Automotive Technologies & Engineering (MATE)

Over 49 Manufacturing facilities across the globe

Over 1100 machines of Injection, Gas, Compression and

Blow Molding

Injection Molding Machines from 5 Tons – 4500 Tons

(Hydraulic / Electric)

Complete In-house Post Processing Facilities including

Paint Shop

Robotic Trimming / Welding (Heat stake/ Ultrasonic/

Vibration) Operations

LPI Injection Molding

18

Elastomer Processing & HVAC Systems

Partners

HVAC Systems

for cars

Manufacturing HVAC

Systems for

passenger cars

Modules including

Body Control

Modules and Engine

Cooling Modules

Calsonic Kansei

Japan

Manufacturing processes include


Silicon Injection Molding

Rubber Extrusion

Rubber Compounding

Supporting Collaborator with exports

from India

Manufacturing parts for the

Automotive, Measuring and Control,

Medical, White Goods and for other

Industrial applications

Five manufacturing Facilities spread

over India, U.A.E. and Australia

Woco Industrietechnik

GmbH, Germany

Elastomer

http://www.calsonickansei.co.jp/english/index.html

19

Increasing Content per Car

* Depictive range only

B-Pillar Trim

Interior Lamp

A-Pillar Trim

Door Trim

Inside Handle

Cockpit

Fuse Box

HTC

Wiring Harness

Grommets

Connectors

Net Front Grill

Boot CV Joint

Bumper

HVAC Systems

Scuff Plate

Exterior Mirror

Outside Handle

Wheel Hub Cap

Exhaust

Suspension

Garnish

Fuel Filler Door

Steering Column

Cover

Spoiler

Roof Rail

C-Pillar Trim

Roof Handle

Pedal Box Assembly

Box Floor Console

Battery Tray

Air Cleaner Assy.

Headlight

Interior Mirror

Compressor

Back Light

19

20

Journey so far : Forming JVs

(Increasing Content per car)

1996 Britax International plc (subsequently known as Visiocorp)

Rear View Mirrors Acquired global rear view mirror business of Visiocorp in 2009* Rs. 69,538 Mn

1997 BTR plc

Blow Molded Plastic Components

Acquired Peguform having similar business*

Rs. 10,194 Mn Merged into MSSL as MATE in

2001-02

Rs. 127,848 Mn

Samvardhana Motherson Reflectec (SMR) India

Rs. 3,088 Mn

Revenues 2012-13

Revenues 2012-13

#49% held by MSSL

*MSSL in 51:49 collaboration with SMIL

Britax Motherson Ltd#

#40% held by MSSL & Group entities

BTR Motherson Automotive Ltd#

Group Synergies (e.g) Wiring Harness Sales of Rs. 2,235 Mn##

##netted in consolidated sales

18

1997 Kyungshin Corp.

Wiring Harness

Catering to 100% Wiring Harness requirement of Hyundai Motor India

Ltd. Rs. 4,109 Mn *

1998 WOCO Industrietechnik

Elastomer Products

Rs. 432 Mn *

2005 Calsonic Kansei

HVAC Systems

Plants in Manesar & Chennai Rs. 1,285 Mn *

Revenues 2012-13

Revenues 2012-13

Revenues 2012-13

*Our share

Kyungshin Industrial Motherson Ltd (KIML)#

Calsonic Kansei Motherson Auto Products Ltd#

#50% held by MSSL

WOCO Motherson Advanced Rubber Technologies Ltd (WMART) #, Kandla

WOCO Motherson Elastomer Limited (WMEL) #, Noida

WOCO Motherson Limited (FZC) #, UAE

#33.3% held by MSSL

# 49% held by MSSL

21

Journey so far : Forming JVs

(Increasing Content per car)

22

Journey so far : Acquisitions (2000 – 2005)

Wexford Electronics (Ireland)

Wiring Harnesses

G&S Kunststofftechnik (Germany)

Reiner Precision (Germany)

Precision Machined Metal Components

Revenues 2012-13

Revenues 2012-13

Revenues 2012-13

(Asset Purchase)

(Asset Purchase)

(Company Purchase) Injection Molded

Plastic Parts

F.P. Formagrau (Czech Republic)

MSSL Mideast (FZE) U.A.E MSSL Ireland Pvt ltd, Ireland

Motherson OCRA Precision Technology GmbH,

Germany

Now entering into Mexico

(Company Purchase)

MSSL Polymers GmbH

(MSP-G), Germany

MSSL Advance Polymers s.r.o. (MSP-CZE), Czech Republic

Rs. 2,485 Mn

Rs. 1,058 Mn

Rs. 1,681 Mn MSSL Tooling

(FZE) MTL Sharjah

2005

2005

2005 2006

MSSL Australia Pty Ltd

23

Journey so far : Acquisitions (2005 – 2010)

ASL Systems, (U.K.)

Wiring Harnesses & Modules Rs. 1,272 Mn

Empire Rubber (Australia)

Rubber Mixing and Molding Rs. 1,230 Mn

Revenues 2012-13

Revenues 2012-13

(Asset Purchase)

(Asset Purchase)

MSSL GB Ltd 2006

2007

24

Global Acquisition : Visiocorp (2009)

Vertical Integration & Capacity Expansion

Geographical & Footprint Expansion Customer Confidence

Innovation/ New Products

Introduced Plastic Glass for Automotive applications Introduced Logo lamps for Exterior mirrors

Set -up 2nd plant at Hungary Greenfield plant setup in Brasil and Thailand Set-up New plant in Pune, India Set-up New plant at Langfang, China

Set-up Glass Lines in Mexico & Thailand Expanded Actuator manufacturing facilities in South Korea Capacity Expansion at Mexico and new Paint Line at Spain

Research & Development

Strengthened Advance Engineering team at Germany with Intensified group wide R&D initiatives

Collaborating with SMP to showcase collaborative engineering solutions to customers

Set-up Advance Engineering centre in India

Within First 6 months : New Orders worth Euro 800 Mn* Post acquisition, new orders won for more than Euro 4 Billion

in last 4 years Orders worth Euro 1.33 billion in FY 12-13

(Visiocorp acquired on 6th March 2009)

Hyundai, 17%

VW Group, 14%

Renault /Nissan, 9%

Ford Group, 9%GM Group, 9%

Kia Motors, 7%

BMW , 7%

Volvo/Geely, 6%

TATA /JLR, 5%

Diamler, 4%

Fiat/Chrysler Group,

3%

PSA Group, 2%Toyota , 2% M & M, 2%

Others , 5%

Customer wise Sales( 2012-13 )

Global Acquisition : Visiocorp (2009)

25

3,117

41,587

45,470

56,652

69,537

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

2008-09(1 month)

2009-10 2010-11 2011-12 2012-13

42

2,362

3,136

2,669

4,414

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

2008-09(1 month)

2009-10 2010-11 2011-12 2012-13

910

107

1,638

974

2,034

418

59

484

178

527

-

400

800

1,200

1,600

2,000

2008-09(1 month)

2009-10 2010-11 2011-12 2012-13

PBT PAT

Sales

EBIDTA

PBT & PAT

(Rs. in million)

EPS accretive since acquisition Achieved EBITDA +ve within First Quarter of

acquisition Consistent Improvement in Financial

Performance

Financial Performance

EBITDA increased to 4 % from just EBITDA breakeven

26

Global Acquisition : Peguform (2011)

(Peguform acquired on 23rd Nov. 2011)


Operational Turnaround

Customer Confidence

Capacity Expansion

Encouraged by new orders, planned 2nd plant at Neustadt (Germany).

Received new orders worth Euro 2.40 Bn

Identified 4 loss making plants & turned them around – one plant still having negative contribution.

Peguform, Originally Established in 1959 as Badische Plastikwerke, is a leading full service supplier of differentiated high quality interior and exterior products for the automotive and related industries, engaged in development, manufacture and distribution of bumper systems, plastic components for vehicle exteriors, vehicle cockpits, dashboards and vehicle interior trims.

Key Customers of SMP are Volkswagen Group, BMW, Porsche, PSA Peugeot, Renault Nissan, Daimler & GM with strong presence in Europe, supplying to major premium German brands, 2nd largest supplier of door panels and the 3rd largest supplier of Instrument Panels in Germany. .

Over 200 injection molding machines, 25 facilities in 7 countries, employs over 7000 employees and one of the largest paint shop facilities in Europe.

Strength of the company lies in creating new applications of plastics and engineering. The company has a strong history of innovations and Firsts in the European Automotive Plastics industry. The company has 274 patents & 27 utility models registered to its name.

Performance Since Acquisition

27

Global Acquisition : Peguform (2011)

33,768

32,855

29,536

33,324

32,134

26,000

28,000

30,000

32,000

34,000

36,000

Q4(2011-12)

Q1(2012-13)

Q2(2012-13)

Q3(2012-13)

Q4(2012-13)

549

1,376

1,096 1,321

1,012

-

400

800

1,200

1,600

Q4(2011-12)

Q1(2012-13)

Q2(2012-13)

Q3(2012-13)

Q4(2012-13)

(518)

235

(34)

136

(158) (42)

(672)

79

(339) (169)

(900)

(600)

(300)

-

300

Q4(2011-12)

Q1(2012-13)

Q2(2012-13)

Q3(2012-13)

Q4(2012-13)

PBT PAT (concern share)

(Rs. in million) Sales

EBIDTA

PBT / PAT

45,279

127,848

-

50,000

100,000

150,000

FY 2011-12* FY 2012-13

592

4,805

-

1,000

2,000

3,000

4,000

5,000

FY 2011-12* FY 2012-13

(1,673)

180

(800) (1,101)

(2,000)

(1,000)

-

1,000

FY 2011-12* FY 2012-13PBT PAT (concern share)

Fin

anci

al P

erf

orm

ance

for

Qo

Q b

asis

Fin

anci

al P

erf

orm

ance

for

YoY

bas

is

* From 24th Nov 2011

Sales

EBIDTA

PBT / PAT

28

Targets set for year 2005 in our

Annual report of year 1999-2000

Achieve 30% of sales from

global customers

Not to have dependence of

over 25% on any one source

Attaining Return on Capital

Employed of 40%

Dividend Payout Ratio 40%

To cross Rs. 1000 Crore

(Consolidated) by the year 2005

Achieved

Rs. 1029 Crores* *taking full turnover of JVs

Sales from

customers outside India

was 29%

ROCE of 37% (on both Consolidated &

Standalone Basis)

Largest customer

contributed 27%

of the total turnover

Dividend Payout Ratio

was 43% for 2004-05

Setting Direction for 5 Years : Vision 2005

29

60% of our consolidated turnover should

cater to the requirements of our


Contribution from any individual customer

in our turnover shall not be more than 20%


Strive to maintain business ROCE of 40%

Shift our stated dividend policy of 40%

payout of the company’s profits to 40%

Payout of the consolidated Profits

Make MSSL a Billion Dollar Company Achieved

USD 1.5 Bn

Sales from


was 70%

ROCE of 37%

(on standalone basis)

ROCE of 22%

(on consolidated basis)

Single largest customer

contributed 27%



44% (Standalone)

32% (Consolidated)

Setting Direction for 5 Years : Vision 2010



70% of our consolidated turnover should

cater to the requirements of our


Global Presence in 26-27 countries

Achieve ROCE of 40%

Dividend Payout Ratio of 40%

of our consolidated net profit

Make MSSL a 5 Billion Dollar Company Achieved

USD 4.6 Bn

Sales from


is 82%

ROCE of 17%* (on consolidated basis)

ROCE of 35%

(on standalone basis)

Presence in

25 countries


32%

Vision 2015 – Still 2 years to go…



How Close we are

in 2012-2013

* First year of consolidation of Peguform

30

31


Sales

67,022 81,756 101,744

124,405

45,278

127,847

67,022 81,756

147,022

252,252

0

50,000

100,000

150,000

200,000

250,000

300,000

2009-10 2010-11 2011-12 2012-13

Sales (without SMP) SMP Sales Total

(Rs.

in M

illio

n)

$ 1.41 Bn

$ 3.07 Bn

$ 1.79 Bn

$ 4.64 Bn

(Rs. in Million)

* CAGR without SMP = 22.8%

20,431

32,516

38,227

45,672

42%

59%

18% 19%

27% 24%

6% 3%

0%

10%

20%

30%

40%

50%

60%

70%

80%

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

2009-10 2010-11 2011-12 2012-13

MSSL (Domestic Sales)

MSSL Domestic Sales Growth (w.r.t previous year)

Indian Passenger Car Growth (w.r.t previous year)2

32

Sales Profile

Sales to customers outside India

(Rs.

in m

illio

n)

Sales to customers within India

(Rs.

in m

illio

n)

46,591 49,240

108,796

206,581

0

25,000

50,000

75,000

100,000

125,000

150,000

175,000

200,000

225,000

2009-10 2010-11 2011-12 2012-13

Sales to customers outside India

(Rs. in Million)

33


2,428

3,908

2,596

4,445

786

1,239 1,034

1,376

32% 32%

40%

31%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

2009-10 2010-11 2011-12 2012-13

PAT (Concern Share) Dividend Payout Dividend Payout Ratio

(Rs.

in m

illio

n) (p

ercentage)

PAT, Dividend Payout & Dividend Payout Ratio

Acquired Peguform in Nov 11 , Exceptional expenses & MTM on Long term loans

MTM Loss on long term loan

(Rs. in Million)

34


13,676

18,364

23,745

26,915

4,748

9,075

41,466 43,095

6,692

9,168

10,627

19,091

-

5,000

10,000

15,000

20,000

25,000

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

2009-2010 2010-2011 2011-2012 2012-2013

Total Equity (including minority) Net Debt EBITDA

Total Equity, Net Debt & EBITDA

Acquisition of Peguform in Nov 2011 ( Debt fully

consolidated )

(Rs. in Million)

35


23%

28%

14%

17%

31% 34%

17%

25%

22%

29%

0%

5%

10%

15%

20%

25%

30%

35%

40%

2009-10 2010-11 2011-12 2012-13

ROCE ROE (Reported) ROE (Adjusted)

First year of consolidation

after Visiocorp takeover

Peguform Acquisition

First year of consolidation

after Peguform takeover

ROCE & ROE

MTM Loss on long term loan

Exceptional expenses & MTM on Long term loans

36

Customer wise Sales : 2012-13

VOLKSWAGEN Group, 47%

Hyundai, 7%Maruti Suzuki, 6%

BMW, 6%

RENAULT NISSAN , 6%

FORD, 4%

Mercedes-Benz , 3%

GM, 2%

TATA MOTORS , 2%

KIA , 2%

VOLVO, 2%

M&M, 2%

TOYOTA, 1%Others, 11%

5,095

3,560

7,604

10,500

3,263 4,433

5,458 -

915 2,773

1,795

2,777

9,273

10,765

14,857

13,276

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

-

4,000

8,000

12,000

16,000

Standalone SMR SMP SMP-SPV*

Long Term Short Term Due within 1 year Total

(Rs.in M

illio

n)

Debt Status

37

Standalone SMR SMP SMP-SPV

Cash & Bank Balance 658 1,849 2,050 231

Net Debt 8,616 8,917 12,807 13,045

(Rs. in Million)

* Note : The debt at SMP-SPV is guaranteed by MSSL & SMIL in the ratio of 51:49. In respect of SMP-SPV debt guaranteed by SMIL, SMIL has agreed to pledge/lien shareholding held by it in MSSL

for which regulatory approval are being taken.

38

Customer Recognition

Inner Part Localization

2012-13

VAVE Award

2012-13 Gold Award for Quality

2012-13

Quality

Excellence

Award

2012-13

Merit Award

for Quality

Excellence

2012-13

Regional

Contribution Award

2012

Supplier of the Year

Gold Award

2011

Industry Contribution

President Silver Award

2011

Industry Contribution

President Silver Award

2011

Outstanding Performance

in FY 2011 Good Cost Performance

2011-12

Award for Excellence in

Quality 2011-12

Incoming Quality

Improvement

2012-13

Overall Performance

Gold Award

2012-13

39


QCIDM Supplier

2012

Quality Commitment

2011

Gold Award

2012

Significant Contribution

2011

JOHN DEERE

Outstanding Support In

Design & Development

Award for support in

Aggressive

Indigenization

Best Supplier Award

2010

Vendor Performance

Award

2012

Best in Class Performance

in Development

2010

40


Superior Safety

Level Award Certificate

of Appreciation

Highest Export

Award 2012 Global Commerce

Excellence

41

Safe Harbor

This presentation is strictly confidential and may not be copied, published, distributed or transmitted. The information in this presentation is being

provided by Motherson Sumi Systems Limited (the “Company”).

Any reference in this presentation to “Motherson Sumi Systems Limited” shall mean, collectively, the Company and its subsidiaries.

This presentation has been prepared for informational purposes only. This presentation does not constitute a prospectus, offering circular or offering

memorandum and is not an offer or invitation to buy or sell any securities, nor shall part, or all, of this presentation form the basis of, or be relied on in

connection with, any contract or investment decision in relation to any securities. Furthermore, this presentation is not an offer of securities for sale in

the United States, India or any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from

registration. Any public offering in the United States may be made only by means of a prospectus that may be obtained from the Company and that

will contain detailed information about the Company and its management, as well as financial statements. Any offer or sale of securities in a given

jurisdiction is subject to the applicable laws of that jurisdiction.

This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company,

which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and

other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ

materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these

risks, uncertainties and other factors, recipients of this presentation are cautioned not to place undue reliance on these forward-looking statements.

The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

The Company, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect

to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The Company assumes no responsibility to

publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent development, information or events, or otherwise.

Unless otherwise stated in this presentation, the information contained herein is based on management information and estimates. The information

contained herein is subject to change without notice and past performance is not indicative of future results. The Company may alter, modify or

otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes.

By attending this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of

the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of

the business of the Company.

This presentation speaks as of June 2013. Neither the delivery of this presentation nor any further discussions of the Company with any of the

recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since that date.

Thank You …

A Relationship Built on Trust

Motherson Sumi Systems Limited Meet/117334_20130731.pdf · providing full system solutions to...

Documents

Transcript of Motherson Sumi Systems Limited Meet/117334_20130731.pdf · providing full system solutions to...